Petitioner, a defaulting borrower, filed a writ petition seeking a rescheduling of his loan. The court held that adjusting repayment terms is a commercial prerogative of the creditor and dismissed the petition.
None. Petitioner's request for loan rescheduling was not granted.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR. JUSTICE DAMA SESHADRI NAIDU
MONDAY, THE 16TH DAY OF JULY 2018 / 25TH ASHADHA, 1940
WP(C).No. 22775 of 2018
PETITIONER:
JOSEPH C. ANTONY, S/O.C.P. ANTONY, CHALLISSERY HOUSE, ERAVU P O, THRISSUR-680620. BY ADV.SRI.K.AMAR RAGH
RESPONDENTS:
1. THE AUTHORIZED OFFICER, STATE BANK OF INDIA,(SBI) CHIEF MANAGER, MAINTENANCE, RACPC, IIND FLOOR, WEST PALLITHANAM BLDGS, KARUNAKARAN NAMBIAR ROAD, THRISSUR-680020. 2. STATE BANK OF INDIA(SBI), REPRESENTED BY ITS MANAGER, SRI. GURUVAYOORAPPAN COMPLEX, ERAVU, ARIMBOOR P O, THRISSUR-680620. BY SRI.JAICE JACOB, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 16-07-2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
mbr/
WP(C).No. 22775 of 2018 (V)
APPENDIX
PETITIONERS' EXHIBITS:
EXHIBIT P1 TRUE COPY OF THE NOTICE ISSUED BY IST RESPONDENT DATED 18.01.2018. EXHIBIT P2 TRUE COPY OF THE POSSESSION NOTICE AFFIXED BY IST RESPONDENT DATED 21.06.2018.
RESPONDENTS' EXHIBITS: NIL
/TRUE COPY/
P.S.TO JUDGE
mbr/ 21.07.2018.
DAMA SESHADRI NAIDU, J.
W.P.(C). No. 22775 of 2018
======================================================= Dated this the 16th day of July, 2018
JUDGMENT
The petitioner borrowed Rs.33 lakh from the respondent bank. In the course of time, he defaulted on the repayment, apparently, owing to his financial stringency. As a result, the respondent Bank served notice on the petitioner, demanding him to remit the defaulted amounts.
W.P.(C). No. 22775 of 2018
-2-
For the above reasons, I dismiss the writ petition. No order on costs.
Sd/-
DAMA SESHADRI NAIDU JUDGE True copy
P.A to Judge
sd
W.P.(C). No. 22775 of 2018
-3-
2 issues framed by the court
Whether a court can compel a bank to reschedule a loan repayment.
Whether the High Court can direct the bank to grant instalment facility.
Joseph C. Antony
The Authorized Officer, State Bank of India
Dama Seshadri Naidu
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
